The retail brokerage filed with the SEC on Tuesday to list RVI at an anticipated price of $25 per share. Unlike traditional private equity vehicles, the fund requires no investor accreditation, performance fees, or high investment minimums. The initial portfolio will provide exposure to prominent private firms including data-analytics leader Databricks, fintech giant Revolut, and smart-ring manufacturer Oura, with plans to eventually add payments firm Stripe.
In section Market Quotes
Robinhood to Launch NYSE-Listed Fund for Private Market Access
Robinhood is set to debut its first private-markets fund on the New York Stock Exchange in the coming weeks, offering retail investors a direct path to high-growth startups. The Robinhood Ventures Fund I, trading as RVI, aims to break down the barriers that typically restrict late-stage private investments to institutional players and the ultra-wealthy.
Bridging the Private-Public Divide
The move addresses a structural shift in U.S. markets where companies remain private longer, capturing significant valuation growth before ever hitting the public exchange. CEO Vlad Tenev stated that opening access to these markets resolves a "longstanding inequity" that has historically favored wealthy investors. This launch is a central component of Robinhood’s broader strategy to evolve into a comprehensive financial services hub, expanding into banking, wealth management, and prediction markets.The offering consists of 40 million total units and shares, which could generate up to $987.6 million in proceeds if over-allotment options are fully exercised. According to the filing, the fund will charge a 2% management fee, though Robinhood will discount this to 1% for the first six months post-IPO. While Robinhood users can request shares during the initial offering, the fund will be available for purchase through other brokerages once it begins trading on the NYSE.
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